The property market in the united kingdom has seen substantial price falls during the last few years. However indicators are starting to appear that the market has arrived at its lowest point with many different experts predicting small increases within the next 12 months. The latest information from WhatHouse? showed that typical house prices have increased by almost £5,000 in 2011. So is now a good time to purchase or should you wait a little longer? Whilst prices are on their way up once again they are still at lower levels than July last year. The outlook for the rest of 2011 and early 2012 varies on whom you listen to. The overall consensus is that prices will increase a little or continue to be flat. So if you’re thinking of investing in a home I’d say do it now. Prices are unlikely to drop and there are some excellent deals available on new homes. If you’re thinking about buying your first home in the near future here are a couple of quick tips to help you out.

Mortgage and Other Expenses

Saving a deposit is among the biggest hurdles for many people and one reason why the housing industry has been flat during the last couple of years. The times of 100% or more home loans are well and truly over. Nowadays most banks and building societies want a 10% deposit to obtain the best deals. However more 95% deals have started to appear during the last few months particularly for those who have excellent credit scores. When you are saving for your first house the deposit is just one of the numerous costs you will have to take into account. You should also think about stamp duty when the property is over a certain value, solicitor’s fees and moving expenses. Furnishing your new home and decoration are other expenses you’ll have to meet. Finally it’s worth taking the time to budget for the bills you will have to pay every month. New or Used Home? Should you buy a new or used home? With the present state of the housing marketplace there is a large stock of new houses that developers wish to sell. There are some excellent deals available on new properties with lots of developers lowering asking prices by as much as 10%. Many developers are also offering incentives including free white goods or assistance with finding a deposit. New build homes will also have a free 10 year warranty from the developer and are a lot cheaper to run and maintain.

Shared Ownership

The popularity of shared ownership schemes has grown considerably in recent years. They enable people to buy a share in a house that they otherwise would be unable to afford . A mortgage is paid on the portion of the property you own and rent to a housing association that owns the other share. You can increase the share of the home you own over time so that eventually you can own 100% of it. Joininga shared ownership program means that you don’t need to save for years to get a large deposit and you can get on the property ladder much sooner. Another option is to consider purchasing a home with a few of your close friends. While this can seem like a good idea it can be fraught with stumbling blocks for the unwary. Always usea solicitor to draw up agreements to make sure that everybody knows their duties and responsibilities.

Find the best new homes Edinburgh with What House?

There is no doubt that the Uk house market has experienced some hard times in recent years. The volume of new houses being built is at an all-time low despite the fact that there exists a massive desire for new homes in many regions. In many parts of the country the effects of the last economic depression are still being felt and the credit crunch is still affecting the provision of mortgage loans. new homes edinburgh However there are a few indications of recovery in the housing market with many industry professionals now saying that it’s reached its lowest point and prices will begin to recover this year. These signs mean that now’s a good time to think about the purchase of a new home from a new home building firm. Should you wish to move home this year there are a number of reasons why you should be thinking about buying a brand new home rather than a used one. To begin with the construction quality of new homes is far superior to older ones. Modern building methods and materials mean that brand new homes are much cheaper to run and are generally considerably more energy efficient. In a time when everyone is more environmentally aware this is a very good thing. Brand new homes come with insurance schemes along with a warranty to provide you with total protection not to mention peace of mind. Buying a new home in a very sought after location with huge living spaces, fitted kitchens and bathrooms with all mod cons is obviously an exciting prospect for almost any home hunter. At the moment there are many great deals and incentives available from new home builders that make moving even easier. In case you are thinking about moving house this year and are searching for new homes Hampshire, new homes Essex or new homes Kent check out the What House? website for all the latest information and news. You will find the best selection of new houses all across the country and also expert advice about all aspects of the current property market.